Indonesia Says Trade, Investment Deal With Australia Takes Effect

Indonesias President Joko Widodo (centre L) and Australias Prime Minister Scott Morrison (centre R) watch as Indonesia's Foreign Minister Retno Marsudi (L) and Australia's Foreign Minister Marise Payne (R) sign agreements at Parliament House in Canberra, Australia, on Feb. 10, 2020. RICK RYCROFT/POOL/AFP via Getty Images

JAKARTA—An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday, Indonesia’s Trade Ministry said.

The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the Indonesia’s parliament in February, aims to boost bilateral trade that was worth $7.8 billion in 2019.